Good times to buy and invest in luxury properties in Barcelona.
Nowadays, we are in a period of economic recovery as in January, the real estate sales increased a 9,6% and has since been followed by five consecutive months of growth. 33.416 sales transactions have been registered since then, the best rate from the last 14 months.
Thanks to a series of positive events for the economy, it’s been possible to stabilize the house prices after falling a 30.4% since the 2008 crisis began. The progress that has been observed in the real estate sector during the last year leads to predictions that foresee an even better situation for 2016, increasing the number of investors, both national and international, year after year.
From Lux Habitat, we invite all our customers to make the most of this opportunity, both sellers and buyers, by investing in Barcelona, especially in the upper area of the city (the area of Sarria, Pedralbes …).
These days, the Barcelona Meeting Point takes place in the city and annually and since its founding in 1997, it has been a reference event in the sector, especially for professionals.
Positive news from the real estate sector:
- The real estate sector increases (Diario Expansión)
The property market still has to overcome the big gap inherited from the real estate boom (there is still a stock of 662,761 properties, even though last year the amount was reduced by 115,000 units), but even so, new promotions are making their way. Experts predict an increase of the construction sector of the 7.5% during the year. Therefore, it is clear that better and different times come for the real estate sector: a new phase with the goal of leaving behind the crisis and embracing optimism. The increase of mortgage deals demonstrates that the banking sector supports the economic recovery.
- Housing prices and new mortgages increase (Diario Expansión)
The sector goes toward recovery.
The ministry of Development declares there have been an appreciation in value of 0.2% and the INE (the Spanish Statistical Office) confirms credit is (in a way) back.
Last year, there were only 5300 mortgages more than in 2013, but it is the first rise after years of decline. It comes with positive rates in the average value and borrowed capital.
- The signing of mortgages loans grew in 2014 for the first time since 2006 (La Vanguardia)
Property prices are stabilized after falling a 30.4% since 2008.
Banks are offering again mortgages loans, although timidly. The average mortgage loan to purchase a home grew last year by 2.1%, with respect to 2013, and reached 102,130 euros, breaking the downward tendency of previous years. The sector recognizes that financing has improved but also emphasizes that these are very low values. Additionally, the granting of these credits are only for people who demonstrate high levels of solvency, which restricts the market to a very limited segment of the whole population. There is trust in new policies of expansion.
- Real estate sales increase a 9.6% in January, after five months of rising. (El País)
33,416 transactions registered, the highest rate in the last 14 months.
The first month of the year brought a rise of a 9.6% in real estate transactions. In January, 33,416 transactions were reported, the highest rate in the last 14 months, and becomes the fifth consecutive month upwards, according to last Friday’s publication of the Spanish Statistical Office (INE). As it has been happening during previous months, the number of transactions regarding new houses decreased a 37.1% in January, while the purchase of existing homes rose a 50.8% year-on-year average.
- Refurbishing overcomes the crisis at cruising speed (El Mundo)
Several reports point out the need to invest in sustainability in energy.
Nearly one million buildings in Spain are in poor condition, a situation that represents a great opportunity for companies in the sector.
- Property sales will grow in 2015 and will drive prices and newly construction buildings upwards. (El Confidencial)
The prospects for economic growth, the job creation rise, and the favorable financing conditions foster a new increase of property sales in 2015, which will be accompanied by a “moderate” growth in prices and an increase of the construction activity.
This is what has been reported in the last ‘Flash Inmobiliario España’, made by the Research Department of the BBVA that certifies that “the recently ended 2014 could be labelled as the year of the start of the recovery in the real estate sector.”
The real estate event of the year takes place in Barcelona.
The 19th edition of the Barcelona Meeting Point, from October 21st to October 25th in Barcelona.
If you are interested in investing in Barcelona, do not miss our offer of the most exclusive properties.
For further information, do not hesitate to visit us at www.luxhabitat.com or call +34 93 201 77 77